SouthPoint Branch Presidents Megan Karg and Max Meine have been hard at work developing a Mad City Money program.
According to a youth.gov survey, results of a financial literacy exam found that high school seniors scored, on average, just 48% correct, showing a strong need for more comprehensive financial education for youth in high school. SouthPoint Financial Credit Union wants to do all they can in their power to help educate students on financial education, which is why Mad City Money will be offered to high school students.
The program consists of hands-on simulation that gives youth a taste of the real world, complete with a career, salary, spouse, children, debt and insurance payments. During the simulation, participants select housing, transportation, food, clothing and childcare, all while building their budget.
On June 14, 2022 SouthPoint hosted its first Mad City Money in which staff member’s children and the Sleepy Eye Princesses participated. Thirteen SouthPoint staff volunteered to participate in Mad City Money vendors.
During the first run, participants expressed that they found interest in the simulation. SouthPoint Branch Presidents plan to bring this program to area schools to continue their work with youth on financial education.